According to Cointelegraph, the Austrian-based cryptocurrency trading platform Bitpanda and Vienna University of Technology are partnering to develop an open-source blockchain platform called “Pantos”.
In its press release on Wednesday, Bitpanda mentioned that the research project wants to solve the problem of the increasing fragmentation of Blockchain tokens and to allow “worthwhile transfers of tokens over several blockchains” for the first time. This will allow traders to profit from the price gap between the different cryptocurrencies, all on a single platform.
The partnership will be financed with the use of an Initial Coin Offering (ICO) with a maximum limit of 1500 bitcoin. The token will be call Pantos (PAN). Instead of using the revenue collected in the ICO to create a company, they want to reinvest it into open-source research and development.
The Pantos system will be launched on Ethereum’s platform but will support Bitcoin, Litecoin, Lisk, Komodo, and Wave in the near future.
In November 2017, the “Security and Privacy” research group of Vienna University of Technology published work that enhance the security of Ethereum Smart Contract.